Argentina
176 Employees
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Third-party revenues
$367,926,973
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Related-party revenues
$25,071,736
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Total revenues
$392,998,710
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Profit before tax
$(161,446,860)
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Tax paid
$386,037
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Tax accrued
$0
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Tangible assets
$1,915,785,086
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Stated capital
$1,555,218,663
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Accumulated earnings
$(938,665,599)
Main business activities
- Upstream
- Trading and Supply
- Support activities
Shell’s footprint
Shell has been present in Argentina since 1914. Shell performs upstream activities in the Neuquén basin, where it operates four blocks and participates in three blocks operated by other companies. Shell also has an interest in a block in the province of Salta. Additionally, Shell Argentina S.A. has exploration activities in three offshore blocks in the Cuenca Argentina Norte basin (South Atlantic): two are joint ventures with Qatar Petroleum, operated by Shell Argentina S.A., and a third is with Equinor and YPF, the National Oil Company of Argentina. In 2018, Shell sold its Argentinian downstream business to the Raízen Group, which is a joint venture between Shell and the Brazilian company Cosan. The Shell brand continues to be present in the country through a brand licence agreement with Raízen.
Country financial analysis
The statutory corporate income tax rate in Argentina is 35%. Shell’s upstream activities reported losses because of exploration and development costs incurred mainly in the Neuquén basin. The tax paid figure is related to social security payments.
